Compare EagleFX vs WorldForex
What is EagleFX? What is WorldForex?
EagleFX is a forex and CFD broker, established in 2019. The broker uses STP execution on the MT4 platform, offering tight spreads and low commissions. With leverage up to 1:500 and no restrictions on hedging or scalping, EagleFX is an attractive option for global traders.
World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
EagleFX vs WorldForex Regulation Comparison
Both brokers are weakly regulated by the SVGFSA (St Vincent and the Grenadines Financial Services Authority), which is not a reputable or trustworthy regulator. Neither broker is regulated by the FCA (Financial Conduct Authority) in the UK, which means they do not offer any protection or compensation to UK traders in case of insolvency or misconduct.
EagleFX vs WorldForex Trading Assets Comparison
EagleFX offers over 200 trading instruments, including forex, CFDs, indices, stocks, commodities, and cryptocurrencies. World Forex offers over 200 trading instruments as well, including forex, CFD stocks, metals, energies, cryptos, and digital contracts. Both brokers provide access to major and minor currency pairs, as well as exotic and cross pairs. However, EagleFX has a wider range of stocks and indices than World Forex, while World Forex has more metals and energies than EagleFX.
EagleFX vs WorldForex Trading Fees Comparison
EagleFX charges low commissions of $6 per lot round turn on forex and CFDs, while offering tight spreads starting from 0.1 pips. World Forex does not charge any commissions on forex and CFDs, but has wider spreads starting from 0.8 pips. Both brokers charge swap fees for holding positions overnight, unless traders opt for a swap-free account. EagleFX also charges an inactivity fee of $10 per month after six months of no trading activity, while World Forex does not charge any inactivity fee.
EagleFX vs WorldForex Account Types Comparison
EagleFX offers only one standard account type for all traders, with a minimum deposit of $10 and a maximum leverage of 1:500.
World Forex offers four different account types: W-Cent (minimum deposit $1, leverage 1:1000), W-Pro (minimum deposit $10, leverage 1:500), W-ECN (minimum deposit $1000, leverage 1:200), and W-Prime (minimum deposit $10000, leverage 1:100). The W-Cent and W-Pro accounts are commission-free with wider spreads, while the W-ECN and W-Prime accounts are commission-based with tighter spreads. All account types offer access to digital contracts with fixed payouts.
EagleFX vs WorldForex Deposit Options Comparison
EagleFX accepts deposits and withdrawals via credit cards, debit cards, wire transfer, PayPal, Bitcoin, and other cryptocurrencies. World Forex accepts deposits and withdrawals via credit cards, debit cards, wire transfer, ADVcash, Apple Pay, Google Pay, Perfect Money, and other e-wallets. Both brokers process withdrawals within 30 minutes or less, but World Forex charges withdrawal fees depending on the payment method, while EagleFX does not charge any withdrawal fees.
EagleFX vs WorldForex Trading Platforms Comparison
Both brokers offer the MetaTrader 4 (MT4) platform as their main trading platform. MT4 is a popular and user-friendly platform that supports multiple charting tools, technical indicators, expert advisors (EAs), automated trading, one-click trading, and trading signals. MT4 is available for Windows, Mac OS X, Android, iOS devices, as well as Linux for EagleFX.
In addition to MT4, World Forex also offers the MetaTrader 5 (MT5) platform, which is an upgraded version of MT4 with more features such as more time frames, more order types, more indicators, more analytical objects, built-in VPS hosting, trade alerts, strategy tester etc. MT5 is available for Windows and Mac OS X devices. Moreover, World Forex has its own proprietary trading terminal called Trade Station, which is a web-based platform that allows traders to access their accounts from any browser without downloading any software. Trade Station has a simple and intuitive interface that supports basic charting tools and order management functions.
EagleFX vs WorldForex Analytical Tools Comparison
Both brokers provide some basic analytical tools on their websites, such as economic calendars, market news, and trading calculators. However, neither broker offers any advanced analytical tools such as Autochartist, eSignal, Trading Central, or TradingView. Traders who want to use these tools will have to subscribe to them separately or find alternative sources.
EagleFX vs WorldForex. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, preferences, and goals. However, here are some general guidelines to help you compare EagleFX and World Forex.
- If you are looking for a broker that offers low commissions, tight spreads, high leverage, and no restrictions on trading strategies, then EagleFX might be a better option for you. EagleFX also has a wider range of stocks and indices than World Forex, as well as more deposit and withdrawal options with no fees. However, you should be aware that EagleFX is weakly regulated by the SVGFSA, which means you have little protection or recourse in case of any issues or disputes. EagleFX also charges an inactivity fee of $10 per month after six months of no trading activity.
- If you are looking for a broker that offers commission-free trading, a $1 minimum deposit, 1:1000 leverage, and access to digital contracts, then World Forex might be a better option for you. World Forex also has more metals and energies than EagleFX, as well as more trading platforms to choose from, including MT5 and Trade Station. However, you should also be aware that World Forex is weakly regulated by the SVGFSA as well, which means you have the same risks and limitations as with EagleFX. World Forex also charges withdrawal fees depending on the payment method.
Ultimately, the best forex broker for you is the one that meets your needs and expectations. You should always do your own research and due diligence before opening an account with any broker. You can also check out some online reviews and ratings from other traders to get more insights and feedback on EagleFX and World Forex.
